Executives of the embattled Road Accident Fund (RAF) gave themselves R6.74 million worth of performance bonuses in the 2024/25 financial year – with the controversial former CEO getting a comfortable R2.8 million bonus.
This comes while the RAF, South Africa’s government insurer funded by a R2.18-per-liter fuel levy, is in severe financial and governance crisis.
It collects over R48 billion annually from the fuel levy but faces insolvency amid corruption claims and mismanagement.
At the end of the 2024/25 financial year, the RAF had R10.4 billion in unpaid claims and a total claims liability of R40.4 billion, yet relies on monthly fuel levy revenue of about R4…